Midwest Trust Co Acquires New Stake in ConocoPhillips $COP

Midwest Trust Co bought a new position in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 411,784 shares of the energy producer’s stock, valued at approximately $36,953,000.

A number of other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after acquiring an additional 31,736,423 shares during the last quarter. Nuveen LLC purchased a new position in ConocoPhillips in the 1st quarter worth approximately $658,981,000. AQR Capital Management LLC lifted its stake in ConocoPhillips by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after purchasing an additional 3,058,505 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after purchasing an additional 2,080,625 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of ConocoPhillips by 53.8% in the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock valued at $550,334,000 after purchasing an additional 1,834,118 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Melius Research began coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. Roth Capital reduced their price target on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Wells Fargo & Company started coverage on shares of ConocoPhillips in a report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price objective for the company. Barclays cut their price objective on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Finally, Weiss Ratings upgraded shares of ConocoPhillips from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $114.54.

ConocoPhillips Stock Up 1.3%

Shares of COP opened at $86.82 on Friday. The firm has a market cap of $108.43 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The company’s 50-day moving average price is $91.58 and its 200 day moving average price is $92.00. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The business had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the business earned $1.78 earnings per share. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a yield of 3.9%. ConocoPhillips’s dividend payout ratio is presently 41.88%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.